Corner condo townhouse in Scarborough Village with value-add renovation upside
A rarely offered 3-bed corner multi-level condo townhouse in Scarborough Village, largely original since 1977 and held by the same owners for over 33 years. Listed at $575,000 with an estimated cap rate of 4.4%, this is a value-add opportunity in a lakeside community near TTC, GO Transit, and major amenities.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$575,000
Cap rate
+4.40%
Est. monthly rent
$3,250
Source: comparables_widened
Est. net spread
+$127K
6mo hold
Annualized ROI
+44%
preliminary
The Deal
A rarely offered 3-bed corner multi-level condo townhouse in Scarborough Village, largely original since 1977 and held by the same owners for over 33 years.
Fix-and-flip projection
The spread, before the buy-and-hold math.
Preliminary · adjust scope & uplift
Renovation scope
Projection
Preliminary estimate. Renovation costs use 6Yield default per-sqft figures. Post-renovation value is modeled as a multiple of list price — replace with comparable post-renovation sales for higher precision. Carrying costs include property tax, condo fees if any, and insurance; financing costs not yet modeled.
Section · Buy-and-hold backup
If you held instead. The carrying math, side by side.
Each column shows the actual monthly cash flow and cash-on-cash return at that leverage. Click a column for the full breakdown.
Acquisition
| Down payment | $201,250 |
| Mortgage principal | $373,750 |
| Land transfer tax | $8,625 |
| Closing costs | $8,625 |
| Total acquisition | $218,500 |
Monthly cash flow
| Estimated rent | +$3,250 |
| Operating expenses | -$1,141 |
| Mortgage payment | -$2,183 |
| Net cash flow | -$74/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $163/mo |
| Maintenance reserve | $479/mo |
| Insurance | $240/mo |
| Property management | $260/mo |
Math by deterministic Python calculator. Rate 4.99% over 25 years. Rent source: comparables_widened (27 comps).
Breakeven
This property turns cash-flow positive at 37.2% down.
Run your own scenario
Move the assumptions. See the math live.
Live result
All figures are estimates only and do not constitute financial advice. The sliders use the same math as the locked five-scenario calculator; only assumptions change. Total acquisition includes the down payment, land transfer tax ($8,625), and closing costs ($8,625).
Section · Investment Thesis
Why this property.
This 3-bedroom, 2-bathroom corner condo townhouse in Scarborough Village is listed at $575,000 and presents primarily as a value-add opportunity. The unit is largely original since 1977 and has been held by the same owners for over 33 years, meaning a buyer is acquiring a solid envelope at a Scarborough entry price with clear scope to modernize finishes and reposition the asset. Estimated gross annual rent is $39,000 with an annual NOI of $25,305, producing an estimated cap rate of 4.4% and a gross yield of 6.78% at the list price.
Leverage sensitivity is high. At 20% down ($115,000), the estimated monthly mortgage is $2,686.43 and projected monthly cash flow is -$577.68, a cash-on-cash return of -5.24%. At 35% down ($201,250), monthly cash flow narrows to an estimated -$73.98 (-0.41% cash-on-cash), effectively breakeven. The property crosses into positive carry at 50% down ($287,500), where projected monthly cash flow is +$429.73 and cash-on-cash is 1.69%. At 75% down, projected monthly cash flow is +$1,269.24 (3.40% cash-on-cash), and an all-cash purchase produces an estimated +$2,108.75 per month and a 4.27% cash-on-cash return. The minimum recommended down payment for neutral-to-positive carry is 35% for investors comfortable with thin breakeven, or 50% for a margin of safety.
The investment case rests on the renovation upside and Scarborough Village's location fundamentals rather than current yield at high leverage. The unit benefits from TTC transit, proximity to Guildwood and Eglinton GO Stations, RioCan Shopping Centre, Walmart Supercentre, Scarborough General Hospital, and access to the Lake Ontario waterfront. Building amenities include an indoor pool, gym, and recreation room. The unit's corner exposure, oversized primary bedroom with enclosed sunroom and walk-in closet, and private fenced patio support post-renovation rent positioning.
Hold-period implications favor a medium-to-long horizon of 60+ months. Investors should budget renovation capex on top of the $8,625 estimated land transfer tax and $8,625 in closing costs, and underwrite the deal on stabilized post-renovation rent rather than day-one cash flow. At lower leverage, the property offers measured cash flow plus optionality on Scarborough's continued infill and transit-driven demand.
Key features
- Corner multi-level condo townhouse, 3 bedrooms, 2 bathrooms
- Largely original since 1977, value-add renovation opportunity
- Oversized primary bedroom with enclosed sunroom, walk-in closet, and 2-piece ensuite
- Private fenced backyard with interlocked patio
- Building amenities include indoor pool, gym, recreation room, visitor parking
- Walking distance to TTC; Guildwood and Eglinton GO Stations nearby
- Close to RioCan Shopping Centre, Walmart Supercentre, Scarborough General Hospital
- Lakeside community with access to Lake Ontario waterfront and trails
Original MLS description
Discover the potential of this rarely offered CORNER multi-level condo townhouse in the heart of Scarborough Village. Owned and meticulously maintained by the same owners for over 33 years, this spacious residence presents an exceptional opportunity to renovate and customize to your personal taste. Largely original since 1977, the home has been well cared for and provides a solid foundation for those looking to create a modern living space tailored to their needs. Its generous layout features expansive principal rooms, abundant storage, and large windows that fill the interior with natural light. The functional kitchen includes a well-sized eat-in area with a window-perfect for casual dining or entertaining. The bright living area opens through sliding glass doors to a private, fenced patio, offering a seamless indoor-outdoor lifestyle. Upstairs, the oversized primary bedroom boasts a walk-out enclosed sunroom, walk-in closet, and convenient 2-piece ensuite. Two additional spacious bedrooms provide flexibility for growing families, guests, or a home office. Upgraded 4pc Bathroom. Private fenced backyard with interlocked patio - ideal for entertaining guests and enjoying family time! Ideally located just minutes from major amenities including RioCan Shopping Centre, Walmart Supercentre, TTC transit, Guildwood and Eglinton GO Stations, parks (Bethune and Guildwood), Scarborough General Hospital, and the scenic Lake Ontario waterfront. Enjoy easy access to nature trails, green spaces, and everyday conveniences. Residents also benefit from a variety of building amenities, including an indoor pool, gym, courtyard + pathways, recreation room, and visitor parking. A rare opportunity to own a generously sized home in a sought-after lakeside community - perfect for buyers looking to add value and make it their own! (42785118)
All photos
38 additional · click any to expand
Section · Neighborhood
Where it sits.
Scarborough Village
Scarborough Village is an established lakeside community in southeast Toronto with access to TTC transit, Guildwood and Eglinton GO Stations for commuter rail into Union, and the Lake Ontario waterfront trail system. The property sits minutes from RioCan Shopping Centre, Walmart Supercentre, Scarborough General Hospital, and Bethune and Guildwood parks, providing a stable rental demand profile from families, healthcare workers, and downtown commuters.
The broader Scarborough submarket has benefited from infrastructure investment along the Eglinton corridor and ongoing GO Transit service expansion, supporting medium-term price stability and rental absorption in well-located lakeside pockets.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
High leverage sensitivity: property is cash-flow negative at 20% and 35% down and only turns positive at 50% down or greater
Unit is largely original since 1977 and will require renovation capex beyond the purchase price
Maintenance fee in the supplied financials is listed as $0.00; condo townhouses typically carry monthly fees, so buyers should verify the actual condo fee with the status certificate before underwriting
Annual property tax in the supplied financials is listed as $0.00; buyers should verify the current tax assessment
Rent estimate of $3,250/month is based on widened comparables (27 comps) and should be validated against current Scarborough Village leasing activity
Stated interior size of 130 sqft appears to be a data entry artifact and should be verified on-site